Days after being acquired, The Fresh Market Inc. announced it would close all of its stores in Missouri, Kansas, Iowa and Texas.
Planned stores, including the company’s anchor tenant spot at the Glenstone Marketplace development in Springfield, do not appear to be affected.
"The decision to close these stores is a difficult but necessary step with the end goal of producing a stronger, more agile company,” Fresh Market President and CEO Rick Anicetti said in a news release. "This shift also allows us to focus our energy and resources on the growth of our remaining stores, as well as new stores we have planned in the future.”
The company plans to close 13 stores in the four affected states effective May 18. Fresh Market’s only Missouri store is in St. Louis, according to its
website. A public relations firm representing the company declined to provide further details, including whether other stores are planned in Missouri.
The Greensboro, N.C., high-end grocery chain
announced plans late last year to occupy 21,000 square feet at developer Brad Thessing’s $10 million, 100,000-square-foot Glenstone Marketplace LLC, 3333 S. Glenstone Ave. The development is slated to open this winter. Thessing could not be reached for comment by deadline.
The Fresh Market recently became a division of Apollo Global Management LLC (NYSE: APO). The Fresh Market was taken private in the purchase.
In the $1.36 billion acquisition closed April 27, Apollo picked up The Fresh Market’s 175 stores in 23 states, according to a news release.
APO shares were trading at $16.66 as of 11:33 a.m., compared to a 52-week range of $12.35 to $23.24.
